1. **Decentralization:** Bitcoin operates on a decentralized network using blockchain technology. It lacks a central authority, such as a government or financial institution, making it resistant to censorship and control. This decentralization is a key feature that contributes to the currency's perceived independence.
2. **Limited Supply:** Bitcoin has a capped supply of 21 million coins, creating scarcity akin to precious metals like gold. This limited supply is coded into its protocol, and it is designed to mimic the scarcity and value retention properties of precious metals, making it attractive to those seeking a deflationary and finite currency.
3. **Volatility:** Bitcoin's value is known for its significant price volatility. While this volatility can present opportunities for traders, it also poses challenges and risks for those seeking a stable store of value or medium of exchange. Factors such as market sentiment, regulatory developments, and macroeconomic trends can influence Bitcoin's price fluctuations.
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